Insider Selling: Northern Oil and Gas, Inc. (NYSE:NOG) CFO Sells 500 Shares of Stock

Northern Oil and Gas, Inc. (NYSE:NOG) CFO Chad W. Allen sold 500 shares of Northern Oil and Gas stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $40.33, for a total value of $20,165.00. Following the completion of the transaction, the chief financial officer now owns 75,814 shares in the company, valued at approximately $3,057,578.62. This represents a 0.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Northern Oil and Gas Trading Up 1.0 %

NYSE NOG opened at $41.20 on Wednesday. The firm has a market capitalization of $4.11 billion, a PE ratio of 4.95 and a beta of 1.85. The business’s 50-day moving average price is $39.97 and its two-hundred day moving average price is $38.73. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.84. Northern Oil and Gas, Inc. has a 12 month low of $31.13 and a 12 month high of $44.31.

Northern Oil and Gas (NYSE:NOG) last released its earnings results on Tuesday, November 5th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.20. The business had revenue of $753.64 million during the quarter, compared to the consensus estimate of $540.23 million. Northern Oil and Gas had a net margin of 33.44% and a return on equity of 27.52%. The company’s revenue for the quarter was up 140.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. On average, analysts expect that Northern Oil and Gas, Inc. will post 5.4 EPS for the current year.

Northern Oil and Gas Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Monday, December 30th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $1.68 annualized dividend and a yield of 4.08%. Northern Oil and Gas’s payout ratio is 20.17%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NOG shares. Piper Sandler reduced their price target on shares of Northern Oil and Gas from $41.00 to $37.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of Northern Oil and Gas in a research note on Friday, January 10th. Mizuho cut Northern Oil and Gas from an “outperform” rating to a “neutral” rating and set a $47.00 price target for the company. in a research note on Monday, December 16th. Jefferies Financial Group began coverage on Northern Oil and Gas in a research report on Thursday, October 3rd. They set a “buy” rating and a $53.00 price objective on the stock. Finally, Truist Financial increased their target price on Northern Oil and Gas from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.50.

Institutional Trading of Northern Oil and Gas

A number of large investors have recently bought and sold shares of NOG. Legacy Investment Solutions LLC acquired a new position in shares of Northern Oil and Gas in the 3rd quarter valued at about $25,000. Signaturefd LLC increased its holdings in Northern Oil and Gas by 100.5% in the third quarter. Signaturefd LLC now owns 852 shares of the company’s stock worth $30,000 after purchasing an additional 427 shares in the last quarter. Quarry LP lifted its stake in Northern Oil and Gas by 338.8% in the second quarter. Quarry LP now owns 1,132 shares of the company’s stock valued at $42,000 after buying an additional 874 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Northern Oil and Gas by 58.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,752 shares of the company’s stock worth $62,000 after buying an additional 647 shares in the last quarter. Finally, Covestor Ltd grew its position in shares of Northern Oil and Gas by 122.6% during the 3rd quarter. Covestor Ltd now owns 1,903 shares of the company’s stock worth $67,000 after buying an additional 1,048 shares during the period. 98.80% of the stock is currently owned by institutional investors and hedge funds.

About Northern Oil and Gas

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.